Shiba Inu, Litecoin, NEAR Price Analysis: Dec 31

The last few days witnessed a bullish recovery attempt as whole market sentiment exhibited a bearish inclination. Shiba Inu struggled to cross the 20 SMA and found it difficult to cope after losing the $ 0.000035 level. Litecoin followed the trajectory of Bitcoin but was unable to back it up with trend-altering volumes.

On the other hand, after hitting its ATH on December 27, NEAR continued to trade above its 20-50-200 SMA.

Shiba Inu (SHIB)

Source: TradingView, SHIB / USD

After reclaiming again, the SHIB bulls turned back from the crucial nine-week support of $ 0.000035 to its immediate resistance. This level also coincided with the 20-SMA (red). Post a breakdown of the descending channel, the alt found long-term support at the $ 0.000029 mark.

As a result, price action jumped 39.12% from this level and reached its three-week high on December 24. The $ 0.0000378 level showed strong resistance as the price action experienced a pullback after testing it several times over the past week.

SHIB needed a sustained close above its 50% Fibonacci support to confirm the strength of the falling wedge breakout.

At press time, SHIB was trading at $ 0.00003387. The RSI swung near the 38 mark. Also, the DMI favored sellers and confirmed RSI’s preference. While the price moved close to its Control Point (red), a short-term trend compromise seemed unlikely.

Litecoin (LTC)

After breaking its swinging range between the $ 143 and $ 156 mark for a short time, LTC forced its one-month resistance at the $ 167 level. Therefore, It saw a pullback in a descending (white) channel on its 4-hour chart. This trajectory was correlated with the descending channel of Bitcoins during the past week.

The bulls held the $ 143 support level for nearly five months, while the bears retested it several times. Now, as a breakout of the descending channel looks like, the bulls are testing the upper channel and the 20-SMA (red).

At press time, LTC was trading at $ 151.7. The RSI crossed the midline after marking higher peaks and valleys. He too MACD The histogram crossed the zero level, indicating an increase in bullish power.

However, retracement volumes have been higher than sloping volumes pointing to a weak bullish move. In addition, the OBV it did not mark a corresponding peak in its trajectory.

Close protocol (NEAR)

NEARUSDT 2021 12 31 14 17 19

Source: TradingView, NEAR / USDT

After swinging in a descending channel, NEAR broke the double bottom formed on its 4-hour chart. It jumped a staggering 99.76% from the low on December 20 and pushed its ATH to $ 16.49 on December 27. Then after forming a bearish divergence between the RSI and price action, it retreated by almost 20% but found support at the uptrend line (white).

At press time, the alt was trading above its 20-50-200 SMA to $ 15,498. This price was near its immediate resistance at $ 15.46 (earlier).

The RSI it constantly marked higher lows and represented a bullish bias. He too DMI reaffirmed the previous analysis. In addition, the MACD confirmed RSI’s conclusion. However the Volume oscillator marked lower highs in the past three days.

This is a machine translation of our English version.

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Shiba Inu, Litecoin, NEAR Price Analysis: Dec 31

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